Governor Chukwuma Soludo has presented a draft 2024 budget of N410, 132, 225, 272 for fiscal year, 2024 to the 8th Anambra state house of assembly.
Before laying the budget titled ” Changing Gears; The Transformation Agenda Begins’ at plenary,
Soludo in his address commended the 8th Anambra assembly lead by the Speaker Rt. Hon. Somtochukwu Udeze for their support.
” We have only one state and our development focus is summarized by the mantra, “One State, One People, One Agenda”.
“I want to thank you for your cooperation and collaboration so far. Together, we shall leave this state far better than we met it.
” Over the past 20 months since our swearing-in on March 17, 2022, we have intentionally focused on judiciously implementing the budgets to address several of the foundational challenges and the results are beginning to show.
” Our human capital remains Anambra’s greatest asset and we are very intentional in building a resource that is productive at home and exportable abroad. Basic education is now truly free of all charges and levies in all public schools in Anambra.
“We are ending the phenomenon of schools without teachers by recruiting 5,000 teachers within the first 9 months in office and ongoing recruitment of an additional 3,000 teachers. The target for our schools is smart education.
” I am here to present the draft 2024 budget. With this budget, we are making an announcement that Anambra is Changing Gear, and that the promised Transformation Agenda now begins.
” Consequently, and in spite of the humongous need, we present a modest budget of N410,132,225,272 for fiscal year, 2024, compared to N258,984,875,905 for 2023 (about 57.8% increase). Recurrent expenditure accounts for N96.2 billion (23.46%) while capital expenditure is N313.9 billion (76.54%). Budget deficit is estimated at N120.8 billion. Relative to 2023, some key sectors have significant increases: Administrative sector (50.85%); Economic sector (103.43%); Judiciary Sector (72.9%); Social Sector (60.24%); Education (140.88%); Health (169.55%); Infrastructure investment (119.84%); overhead costs (34.1%); etc.
“While consolidating and expanding the ongoing programmes and projects, the emphasis on the sectors as indicated above signal new vistas. Three new cities are part of the new Masterplan for Anambra: Awka 2.0; Onitsha 2.0; and a new Industrial City (with Export Emporium and potentials for a possible future airport).
“when compared to some years ago. Prices of critical inputs, especially for infrastructure delivery, are galloping. But in spite of this, we are determined to maximize value for Ndi Anambra as we are currently doing.
” Our Internally Generated Revenue (IGR) remains a fundamental challenge. In the 2023 budget, we expected a monthly revenue of N4 billion. So far, we are averaging N2 billion, and we are still projecting N4.2 billion per month in 2024. This is a wake-up call to all residents of Anambra, and all Ndi Anambra wherever they may live. We can’t build the envisioned livable and prosperous homeland with our saliva. With the abundant resources that God has blessed Ndi Anambra with, there is literally nothing that we collectively set our minds to that we cannot achieve for our homeland”.
Anambra Speaker Rt. Hon. Somtochukwu Udeze while speaking assured the Governor Soludo that the 8th assembly will do everything within its powers in making sure that the vision of the present administration, achieve its vision and mission.
Chairman House Committee on Finance and Appropration Hon. Ejike Okechukwu in a vote of thanks, stated that the intention of Governor Soludo can be seen from the title of the bidget.
Hon. Okechukwu who is the member representing Anaocha two constituency, maintained that areas of special intreast of the Governor such as education, health, skill acquisition and urban regeneration were given priority. He assured Soludo that the committee will hit the ground running.
Anambra State Commissioner For Budget Mrs Chiamaka Nnake while speaking after plenary in an interview said the administration of Governor Chukwuma Soludo will continue to prioritize infrastructure by expending Awka.
“In the budget, their is prioritize on health and education through adding tech in school system. Technology is the new trend and this administration is trying to catch them young through sustaining free education and recruiting more teachers.
“The health intervention will be sustained through rebuilding health infrastructure and provide general hospital to local governments that dont have any.
“The IGR remains a major component of funding the budget and our people needs to do their own part. We are also engaging and partnering private sectors”. Nnake stated.
